The paper is a significant step towards making the “fit and proper person” criteria more balanced and fairer. However, its triumph depends on how SEBI exercises its discretion.

The article is a critical analysis of how India’s 2026 IT Amendment Rules attempt to combat deepfakes by forcing platforms into automated censorship, inadvertently trading constitutionally protected content for regulatory speed.

The existing legal status of MHSPL represents its accurate legal status. The CCI followed the Supreme Court decisions from Thomas Cook and Scm Solifert Ltd. v, Competition Commission Of India, (2018) 6 SCC 631, which established its binding legal framework. The problem exists as a matter of legislation rather than through judicial processes.